Column D nonresident period is calculated by the program. For a Sch C business, New Jersey does not allow a net business loss to be reported directly on the tax return to offset other income. NJ lets you carry forward business losses. Negative numbers will not be used on the allocation form.
Let's go through the NJ part year together:
- Open to NJ General information -should have your part year dates
- Open to Adjustments -
- Wages earned in NJ - regardless of residency - NJ taxes what you earned there
- Interest - enter portion while NJ resident
- Business question asks - Of the zero profit, how much was earned while NJ resident. It won't let me enter anything with my business loss entry.
- income and deduction summary -verify the numbers
I am not getting the red column D when entering through the interview. Once you have corrected your A and B columns, the program should be good.
If not, let's get you through the review.
- On the review screen it shows the red boxes and needs an entry. All answers must be non negative numbers for NJ income while nonresident.
- Sometimes the program needs a zero to make it calculate.
- Sometimes the program needs a blank to work.
- If the wages and interest are not calculating, enter the correct numbers for NJ sources while nonresident. I imagine zero for the interest.
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